VW Increases Planned New EVs by 40%

VW Increases Planned New EVs by 40%

Volkswagen is to increase the number of new electric vehicles it launches over the coming years by nearly 40% from previous projections.

The group said it would launch nearly 70 new EVs between 2019 and 2028, having previously announced in November that it would produce 50 between 2019 and 2025. It projected a resulting increase in the number of EVs manufactured using its platforms from 15 million to 22 million.

Volkswagen also unveiled three strategies for achieving its previously announced aim of “complete decarbonization by 2050” in line with the 2015 Paris Agreement on tackling climate change. These were “effective and sustainable CO2 reduction”, use of renewable energy to power vehicles, and compensation for unavoidable “remaining emissions”.

CEO Herbert Diess said: “The targets of the Paris Agreement are our yardstick. We will be systematically aligning production and other stages in the value chain to CO2 neutrality in the coming years. That is how we will be making our contribution towards limiting global warming.” Reuters quoted him as saying that increasing EV production would cause “job cuts, and achieving this purely through fluctuation and partial retirement will be difficult”.

The automaker aims to reduce its fleet’s CO2 footprint by 30% across its life cycle from 2015 levels. It claimed it would make at least 40% of its fleet electric by 2030 and invest €30BN in electrification by 2023. Samsung, LG Chem, CATL, and SKI have been selected as battery suppliers for this work.

Volkswagen added that all its plant’s CO2 emissions would be half their 2010 levels by 2025. It claimed its Wolfsburg plant’s conversion from coal to gas would cut its CO2 emissions by 1.5 million tonnes per year from 2023 onwards.

Volkswagen’s previous announcement of boosted EV spending between 2019 and 2023 focused on earnings rather than environmental responsibilities. It recently announced Anting, China and Chattanooga, Tennessee as major centers of EV production based on its Modular Electric Toolkit (MEB).

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